N5 launches AIs that “speak the language” of the financial sector


With a trio of artificial intelligence (AI) tools, the software company expects to triple revenue this yearño

Julian Colombo/N5 - Imagen: Divulgación
Julian Colombo/N5 – Imagen: Divulgación

Alfred, Pep and Singular make up a new generation of artificial intelligence (AI) tools that N5 launches this Thursday (4/7). They are what the software company is calling “financial self-contained artificial intelligence.”

With this “bionic trio”, the software company sees room to take the use of AI in the financial sector to another level. To get the solutions off the ground, the company has invested US$ 50 million since 2017, the year it was founded.

According to Julian Colombo, CEO and founder of N5, one of the main differentiators of AIs is that they focus on banks, insurance companies, and other players in the industry. Because they deal with customer data and information from these institutions, the tools do not communicate with other AIs or the internet in general. Thus, the risks of ‘hallucination’ (when the model makes a mistake) are lower and the answers are more accurate.

“About 90% of the responses are with our own model. And when we need to call on other platforms, we never transact customer data,” says the CEO. “We have 11 partners, including OpenAI, Google, and Amazon.”

The new AIs can integrate into any core system, CRM (customer relationship management) and/or BPM (business process management). According to N5, the tools are capable of increasing commercial productivity by 9 times and reducing companies’ operating costs by up to 94%.

Waiting list

Currently, N5 has four clients in the financial sector already using its AIs. The CEO does not disclose the names, but says that they are large companies and three of them have operations in Brazil. “We are opening a waiting list. The idea is to monitor because we are talking about a very powerful technology. We want to learn from customers throughout the process,” says Julian.

With the launch of AIs, the executive believes that N5’s revenue will triple in 2024. In the first half of the year alone, according to him, the company’s revenues have already exceeded that recorded in the whole of last year – US$ 21 million.

Today, N5 serves 70 customers in 18 markets, including countries in Latin America such as Brazil, Mexico, Colombia, Chile and Colombia. They are names such as Itaú, Santander, C6 Bank, Mastercard, BCP (from Peru), among others.

The trio

Alluding to Batman’s butler, Alfred is a virtual assistant who performs all the tasks of executives and professionals in the financial sector. Or, in Julian’s definition, it’s an AI that turns every person into a “superhero.” According to the CEO, Alfred is trained to solve specific demands of each institution, 100 times faster. “For example, today to release the guarantee to a customer, you have to go to the bank’s intranet, call the help-desk. Alfred does it in seconds,” he said.

Pep, whose name is inspired by former player and now football coach Pep Guardiola, acts as a mentor or coach who evaluates the performance of employees. “It’s an AI that learns from that top 1% of a company and helps others achieve that performance,” says Julian. “Imagine a professional who is selling little life insurance, Pep is the ‘super coach’ who helps the person to improve at it.”

The Singular, on the other hand, is a combination of Alfred and Pep. It is an AI that specializes in selling products, collecting delinquencies, advising on investments, tax planning, among others. All proactively, unlike a chatbot, which works in a reactive way to customer messages. “It’s an AI that allows the executive to take care of 30,000 customers instead of 300 customers, for example, and with human characteristics,” says the CEO.

It remains to be seen whether the market will “buy” the innovation.

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